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Topic: Steem pyramid scheme revealed - page 33. (Read 107059 times)

legendary
Activity: 1652
Merit: 1088
CryptoTalk.Org - Get Paid for every Post!
October 10, 2016, 12:33:58 PM
It broke the critical level of 50k today.
Time to revive this thread.

I would say its justified to call it all that, a Ponzi, a scam, a pyramid scheme.
The suckers in charge doing nothing but milk it some more, taking the piss.

The price chart is following the pattern of lots of alts, in that people get very excited at the start, but when "instant" profits don't materialise, they sell to invest in the next shiny alt.

We won't be able to judge whether steemit is a success till it has been going for at least a year.
hero member
Activity: 2170
Merit: 640
Undeads.com - P2E Runner Game
October 10, 2016, 07:35:38 AM
It broke the critical level of 50k today.
Time to revive this thread.

I would say its justified to call it all that, a Ponzi, a scam, a pyramid scheme.
The suckers in charge doing nothing but milk it some more, taking the piss.
legendary
Activity: 1260
Merit: 1000
September 20, 2016, 08:49:16 PM
I tried to get straight to the point on this post.  What's going on right now is either meh slightly bearish, or very bullish:

http://steemit.com/money/@r0achtheunsavory/bitcoin-market-in-one-picture-without-commentary
sr. member
Activity: 336
Merit: 265
September 19, 2016, 05:50:37 AM
Steemit is actually a good service for the community while this post is some loser's ego trip. Even if that is true about the 10:1 swap in 3 years, if the reduced Steem was converted to SBD on legacy accounts then there would be less of an issue. Though i'll read about this more myself don't know if this source is factual.

Overly concentrated initial distribution. Fucked everything up. Period.

I appreciate your attitude. Adds fuel to my coding fire.
sr. member
Activity: 489
Merit: 260
September 18, 2016, 08:21:43 PM
Steemit is actually a good service for the community while this post is some loser's ego trip. Even if that is true about the 10:1 swap in 3 years, if the reduced Steem was converted to SBD on legacy accounts then there would be less of an issue. Though i'll read about this more myself don't know if this source is factual.
hero member
Activity: 700
Merit: 500
Founder of CoExistCoin
September 18, 2016, 02:33:35 PM
hey all. Please read, share and up vote our weekly Lets Coexist blog #3

https://steemit.com/charity/@coexist/lets-coexist-blog-3
legendary
Activity: 1946
Merit: 1055
September 18, 2016, 07:00:30 AM

I think the world is more likely to enter a dystopia than any knowledge age utopia for several reasons:

1)  Decline in cheap energy - Even if we put up fusion plants everywhere, people think this is free energy, but it's actually expensive energy to start from a state of scratch and go all the way to bringing it to market.  We have made fast leaps in the past due to cheap energy and the golden days of oil being cheaper than water are gone.  This is not the same thing as "peak oil", but peak oil is obviously a real thing, just nobody knows when it happens.  The fact people are bothering with shale oil at all is a pretty ominous sign.  Eventually it will require more oil to bring it out of the ground than what the oil is worth.

2)  Diminishing returns of complex systems and inherent centralization of complex systems- There's millions of examples of this.  One example is a research team used to be one person, now you need many people of several disciplines.  It eventually reaches a point where you need a Manhattan project to do anything.  This also entails a mandatory authoritarian government directing those resources for "the greater good" or "progress".  The human brain is also not wired to deal with infinite complexity, this results in being over-stressed.  

If everyone on earth is required to be significantly trained upwards and solve hours of differenetial equations to earn enough for one cheeseburger, everyone will likely just off themselves, or the system would have collapsed and returned to a far more primitive state beforehand.

3)  Eventual convergence towards a steady state economy instead of one based on infinite growth - If anything, the "golden age" of civilization is probably the days during periods of infinite growth, unsustainable, debt bubbles where you're essentially borrowing from the future to sustain the now.

Summary:  If you want to sustain the current level of "progress", it requires an ever increasing amount of resources, an ever increasing amount of centralization, and loss of freedom.  If you want to sustain the civilization that already exists with no progress, it probably still requires all of these features in the face of declining EROEI.

r0ach you are violating the Second Law of Thermodynamics which is explained in my blog.

You could be correct on a short-term horizon (and on human scale) but in the large scheme of things, it is impossible for you to be correct.

On the specifics, I believe there is more than abundant energy in the universe and mankind is clever enough to extract it.

And the decentralization of information and thus knowledge production is already revolutionizing our world. This will accelerate.

I am optimistic. Yeah we'll see the Western socialism collapse, which is good change. Along the way, we will see some negative things happen, such as potentially war, etc..

The Western world has had a long period of relative peace and affluence. Cycles dictate that must change. I don't view the future as continuous decline, rather as a cycle of up and down. Yet technology never stops improving our quality of life overall.

These are not really mutually exclusive possibilities. r0ach may be correct in the medium term and iamnotback correct over the long run.

As an intellectual exercise I will share a passage from a book written some 250 years ago titled The Way Of God.  This book caught my attention when I heard it described by someone as the most systematic exposition of monotheism fundamentals ever written yet its author claimed he received direct instruction from an otherworldly being he identified as an angel. That was a very interesting juxtaposition so I picked up a copy. Below is a passage from the book.

Quote from: Moshe Chaim Luzzatto
Justice decreed that neither man nor the world will ever be able to rise to perfection while still in their current fallen state. Because they remain in this spoiled, non-ideal condition, and evil in the meantime has increased, both must go through a stage of destruction before either can arrive at perfection.

Man must therefore die, and everything else that was corrupted with him also must perish. The soul cannot purify the body until the body dies and deteriorates and a new structure is composed, that the soul can enter and purify. The entire world must likewise be destroyed and cease to exist in its present form, and it must then be renewed in a new state worthy of perfection.

It was therefore decreed that man should die and then be brought back to life. This is the concept of the Resurrection of the Dead. The entire world must similarly be destroyed... for one thousand years it will be desolate. At the end of this thousand years, God will again renew His world.

The true time and place of reward will therefore be after the resurrection in this renewed world. Man will then enjoy his reward with both body and soul. The body will be purified by the soul, and will therefore also be in a proper state to enjoy that good.

Since it has been decreed that man must die, body and soul must remain separated until the time comes for them to be reunited. During this period of separation, an appropriate place must exist for each of the two separate parts. The body thus returns to its element, decomposing and losing its form... When the soul is recombined with the body after the resurrection, however, it will no longer be bound or restricted and will enter the body with all its brilliance and strength. The body will then experience a great enlightenment, and will not have to develop gradually as a child now does.

So how is this passage relevant? Consider the following hypothetical scenario:
1) Homo Sapiens go extinct.
2) Some portion of Humanity survives in a digitized form having figured out a way to virtualize our consciousness.
3) Humanity eventually leaves these virtual spaces for newly constructed bodies built rather then bred.

Such a scenario is of course science fiction. However, I find it interesting that ancient religious predictions interpreted in their most literal sense appear to be more plausible not less as time and technology progress. Perhaps homo sapiens are doomed for the reasons mentioned while humanity is destined for a golden age of knowledge.  
sr. member
Activity: 336
Merit: 265
September 18, 2016, 05:17:03 AM
r0ach you are violating the Second Law of Thermodynamics which is explained in my blog.

You could be correct on a short-term horizon (and on human scale) but in the large scheme of things, it is impossible for you to be correct.

On the specifics, I believe there is more than abundant energy in the universe and mankind is clever enough to extract it.

And the decentralization of information and thus knowledge production is already revolutionizing our world. This will accelerate.

I am optimistic. Yeah we'll see the Western socialism collapse, which is good change. Along the way, we will see some negative things happen, such as potentially war, etc..

The Western world has had a long period of relative peace and affluence. Cycles dictate that must change. I don't view the future as continuous decline, rather as a cycle of up and down. Yet technology never stops improving our quality of life overall.
legendary
Activity: 1260
Merit: 1000
September 17, 2016, 11:21:08 PM
Well, you can also avoid the negatives I listed by society just scaling back.  Having smaller houses instead of paying $1000 a month to air condition mansions, reproducing less, etc.  The current governments actually subsidize R-selection and kind of penalize K-selection, so all that has to change.
legendary
Activity: 1806
Merit: 1828
September 17, 2016, 11:01:26 PM
Received 100 votes in the first 30 minutes (puts it #5 on the hot list), but without a significant whale vote (one who is not spreading their voting power too thinly) it is only $37 thus far:

https://steemit.com/science/@anonymint/the-golden-knowledge-age-is-rising

Update: 143 votes in 35 minutes!

I think the world is more likely to enter a dystopia than any knowledge age utopia for several reasons:

1)  Decline in cheap energy - Even if we put up fusion plants everywhere, people think this is free energy, but it's actually expensive energy to start from a state of scratch and go all the way to bringing it to market.  We have made fast leaps in the past due to cheap energy and the golden days of oil being cheaper than water are gone.  This is not the same thing as "peak oil", but peak oil is obviously a real thing, just nobody knows when it happens.  The fact people are bothering with shale oil at all is a pretty ominous sign.  Eventually it will require more oil to bring it out of the ground than what the oil is worth.

2)  Diminishing returns of complex systems and inherent centralization of complex systems- There's millions of examples of this.  One example is a research team used to be one person, now you need many people of several disciplines.  It eventually reaches a point where you need a Manhattan project to do anything.  This also entails a mandatory authoritarian government directing those resources for "the greater good" or "progress".  The human brain is also not wired to deal with infinite complexity, this results in being over-stressed.  

If everyone on earth is required to be significantly trained upwards and solve hours of differenetial equations to earn enough for one cheeseburger, everyone will likely just off themselves, or the system would have collapsed and returned to a far more primitive state beforehand.

3)  Eventual convergence towards a steady state economy instead of one based on infinite growth - If anything, the "golden age" of civilization is probably the days during periods of infinite growth, unsustainable, debt bubbles where you're essentially borrowing from the future to sustain the now.

Summary:  If you want to sustain the current level of "progress", it requires an ever increasing amount of resources, an ever increasing amount of centralization, and loss of freedom.  If you want to sustain the civilization that already exists with no progress, it probably still requires all of these features in the face of declining EROEI.

I just think a cataclysmic event is becoming impending. North Korea is already demonstrating that you can't keep a 70 year old technology out of the hands of "undesirables" forever.
legendary
Activity: 1260
Merit: 1000
September 17, 2016, 10:44:26 PM
Received 100 votes in the first 30 minutes (puts it #5 on the hot list), but without a significant whale vote (one who is not spreading their voting power too thinly) it is only $37 thus far:

https://steemit.com/science/@anonymint/the-golden-knowledge-age-is-rising

Update: 143 votes in 35 minutes!

I think the world is more likely to enter a dystopia than any knowledge age utopia for several reasons:

1)  Decline in cheap energy - Even if we put up fusion plants everywhere, people think this is free energy, but it's actually expensive energy to start from a state of scratch and go all the way to bringing it to market.  We have made fast leaps in the past due to cheap energy and the golden days of oil being cheaper than water are gone.  This is not the same thing as "peak oil", but peak oil is obviously a real thing, just nobody knows when it happens. The fact people are bothering with shale oil at all is a pretty ominous sign.  Eventually it will require more oil to bring it out of the ground than what the oil is worth.

2)  Diminishing returns of complex systems and inherent centralization of complex systems- There's millions of examples of this.  One example is a research team used to be one person, now you need many people of several disciplines.  It eventually reaches a point where you need a Manhattan project to do anything.  This also entails a mandatory authoritarian government directing those resources for "the greater good" or "progress".  The human brain is also not wired to deal with infinite complexity, this results in being over-stressed.  

If everyone on earth is required to be significantly trained upwards and solve hours of differential equations to earn enough for one cheeseburger, everyone will likely just off themselves, or the system would have collapsed and returned to a far more primitive state beforehand.

3)  Eventual convergence towards a steady state economy instead of one based on infinite growth - If anything, the "golden age" of civilization is probably the days during periods of infinite growth, unsustainable, debt bubbles where you're essentially borrowing from the future to sustain the now.

Summary:  If you want to sustain the current level of "progress", it requires an ever increasing amount of resources, an ever increasing amount of centralization, and loss of freedom.  If you want to sustain the civilization that already exists with no progress, it probably still requires all of these features in the face of declining EROEI.
sr. member
Activity: 336
Merit: 265
September 17, 2016, 06:50:36 PM
Received 100 votes in the first 30 minutes (puts it #5 on the hot list), but without a significant whale vote (one who is not spreading their voting power too thinly) it is only $37 thus far:

https://steemit.com/science/@anonymint/the-golden-knowledge-age-is-rising

Update: 143 votes in 35 minutes!
legendary
Activity: 1260
Merit: 1000
September 16, 2016, 12:09:07 AM
I put DAYS and DAYS of work making part 1 and part 2 of this post.  Part 2 isn't done yet, but part 1 is worth a read and should be useful to most people:

https://steemit.com/money/@r0achtheunsavory/the-r0ach-report-vol-4-prepping-for-the-end-of-the-world

With the market price tumbling for Steem, the posting rewards keep shrinking. I hope you garner enough to be worth your valuable time. I gave you all the upvotes I could, but I'm a minnow.

Thanks.  It's something I wanted to post about regardless because a lot of people talk about this stuff, know it's probably coming eventually, but can't really figure out what they should do beforehand.  I tried to put out the minimum of what you can do to get by without blowing a ton of money or large investment of time.  Part II took way longer and is less about survival but will be even more useful to certain audiences.
legendary
Activity: 1806
Merit: 1828
September 15, 2016, 10:59:54 PM
I put DAYS and DAYS of work making part 1 and part 2 of this post.  Part 2 isn't done yet, but part 1 is worth a read and should be useful to most people:

https://steemit.com/money/@r0achtheunsavory/the-r0ach-report-vol-4-prepping-for-the-end-of-the-world

With the market price tumbling for Steem, the posting rewards keep shrinking. I hope you garner enough to be worth your valuable time. I gave you all the upvotes I could, but I'm a minnow.
legendary
Activity: 1588
Merit: 1000
September 15, 2016, 10:03:20 PM
This article confirms my viewpoint that all digital currencies will follow the Ted Kaczynski model of technology always being a detriment to human liberty and freedom:

http://www.bloomberg.com/view/articles/2016-09-01/on-digital-currencies-central-banks-should-lead

They're spelling it out now in non-ambiguous terms that digital currency is just going to be gateway for things like a ban on cash, increased Keynesianism, NIRP, more taxation, etc.  In other words, no matter how it starts out, and might be beneficial in the near term, in the end game you will always be receiving a net loss.  Even with things like Monero, they will just force you to use a fixed address alias system for transactions to bypass the Monero mixer, otherwise you'll be considered a money launderer.  There is really no such thing as "fungible" digital currency as long as governments exist.

Actually, I agree with you...
Lenin, "The capitalists will sell us the rope with which we will hang them"...
Government, NSA, CIA, Wall Street, "The crypto anarchists will build the Surveillance State to enslave themselves".

It's absolutely hilarious that Ethereum fan boys are excited because Thomson Reuters is sniffing around...
These people have absolutely no clue what a ruthless monopolist TRI is (I know, I pay them $$$ every month)...
A monopolist has zero interest in cost reduction or the welfare of it's clients...
To TRI crypto exists for the sole purpose of increasing revenue and profits and control, man.
legendary
Activity: 1260
Merit: 1000
September 15, 2016, 08:09:43 PM
I put DAYS and DAYS of work making part 1 and part 2 of this post.  Part 2 isn't done yet, but part 1 is worth a read and should be useful to most people:

https://steemit.com/money/@r0achtheunsavory/the-r0ach-report-vol-4-prepping-for-the-end-of-the-world
sr. member
Activity: 336
Merit: 265
September 04, 2016, 08:25:21 PM
Interesting blog about Google's new RankBrain SEO algorithm:

Correct but still isn't really monetizing traffic from Google for the blog author, because really only the whales can impart any significant rewards. And 4 weeks is nothing. The content may be relevant and generating Google traffic for years.

Your blog post is interesting to contemplate. And it could help drive traffic to Steem(it), which one might presume would drive more usership. But readers aren't users. They have to actually signup to become useful in terms of onboarding crypto-currency to the masses. And they have to actually find it rewarding to do something with their registered account other than just read.

I still think the reward dynamics of Steem aren't viral.

In terms of Google's new RankBrain, it will also send more readers to Medium, which already has 25 million reader and 20,000 weekly active bloggers. What does Steem offer that is an advantage? A smaller audience?
sr. member
Activity: 336
Merit: 265
September 04, 2016, 07:37:21 PM
This article confirms my viewpoint that all digital currencies will follow the Ted Kaczynski model of technology always being a detriment to human liberty and freedom:

http://www.bloomberg.com/view/articles/2016-09-01/on-digital-currencies-central-banks-should-lead

They're spelling it out now in non-ambiguous terms that digital currency is just going to be gateway for things like a ban on cash, increased Keynesianism, NIRP, more taxation, etc.  In other words, no matter how it starts out, and might be beneficial in the near term, in the end game you will always be receiving a net loss.  Even with things like Monero, they will just force you to use a fixed address alias system for transactions to bypass the Monero mixer, otherwise you'll be considered a money launderer.  There is really no such thing as "fungible" digital currency as long as governments exist.

Disagree.

That article exemplifies to me how little the PBOC understands about this phenomenon. It shows they are far behind and are likely to get their butts kicked by crypto-currency and blockchains.

They can't take the lead and control, because it is a global phenomenon and they only control their own nation, and with VPNs, Tor, etc, they don't even control their own nation.

Providing a stable value and control over the money supply are not the point of crypto-currencies and blockchains. They entirely don't understand the phenomenon. I told you all upthread that the store-of-value function is not the killer app.

We are only waiting on the blockchain which onboards the masses with popular activities.

It will be very difficult to ban a popular activity which is deemed by the mainstream to be harmless and advancing technology, and to enforce taxation+KYC on zillions of microtransactions.

Edit: I continue to maintain my belief that Bitcoin was primarily driven by tinfoil hats and thus Bitcoin is not the killer app of blockchains:

https://steemit.com/bitcoin/@michaelmatthews/how-i-got-into-bitcoin
legendary
Activity: 1260
Merit: 1000
September 04, 2016, 05:04:42 PM
This article confirms my viewpoint that all digital currencies will follow the Ted Kaczynski model of technology always being a detriment to human liberty and freedom:

http://www.bloomberg.com/view/articles/2016-09-01/on-digital-currencies-central-banks-should-lead

They're spelling it out now in non-ambiguous terms that digital currency is just going to be gateway for things like a ban on cash, increased Keynesianism, NIRP, more taxation, etc.  In other words, no matter how it starts out, and might be beneficial in the near term, in the end game you will always be receiving a net loss.  Even with things like Monero, they will just force you to use a fixed address alias system for transactions to bypass the Monero mixer, otherwise you'll be considered a money launderer.  There is really no such thing as "fungible" digital currency as long as governments exist.
sr. member
Activity: 336
Merit: 265
September 03, 2016, 05:16:58 AM
Continuing my bloviating...the following video makes some good points (although I guess most of us know these already):

https://steemit.com/social-media/@piedpiper/helping-social-media-refugees-settle-into-steemit
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